The answer is true. Temporary accounts are transient accounts that open with no balance at the beginning of each accounting period and close at the conclusion in order to preserve a record of accounting activity during that period.
They consist of the spending accounts, income statements, and income summary accounts. Permanent accounts include cash accounts such as accounts receivable and accounts payable. The terms asset, liability, equity, inventory, balance investments, etc. are other examples of permanent accounts. An account that shuts at the conclusion of each accounting period and has no balance when a new period starts is referred to as a transitory account.
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The thing which the Supreme Court ruled in <em>Burwell v. Hobby Lobby </em>with regard to the Affordable Care Act's requirement was:
- Birth control could be denied
<h3>What is a Court Ruling?</h3>
This refers to the general decision which a competent law court has taken after deliberations of the evidence, witnesses and other available information of a case to the best determination of the judge.
With this in mind, we can see that from the Burwell v. Hobby Lobby case, there was a ruling against birth control access which meant that birth control could be denied to employees and this was with regard to the Affordable Care Act's requirement.
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Answer:
Environmental law.
Explanation:
If a computer store dumps waste behind its building in violation of local, state, or federal environmental regulations, the resulting dispute focuses on environmental law.
Environmental law is the collection of laws, regulations, agreements and common law that governs <u>how humans interact with their environment</u>. Environmental laws not only aim to <u>protect the environment from harm</u>, but they also determine who can use natural resources and on what terms.
<u>Environmental law covers Waste Management – Municipal waste, hazardous substances and nuclear waste all fall in the category of waste management.</u>
Answer:
2.2
Explanation:
The formula for calculating price elasticity using the midpoint method is:
midpoint method = {(Q2 - Q1) / [(Q2 + Q1) / 2]} / {(P2 - P1) / [(P2 + P1) / 2]}
midpoint method = {(150 - 100) / [(150 + 100) / 2]} / {(1.20 - 1) / [(1.20 + 1) / 2]}
midpoint method = [50 / (250 / 2)] / [0.20 / (2.20 / 2)] = (50 / 125) / (0.20 / 1.1)
midpoint method = 0.4 / 0.19 = 2.2
The advantage of using the midpoint method to calculate price elasticity is that we can calculate the price elasticity between two points, and it doesn't matter if the price increases or decreases.
If we calculate price elasticity using the single point formula:
price elasticity = % change in quantity supplied / % change in price = 50% / 20% = 2.5
